Stichting Clean Energy and Energy Inclusion for Africa (CEI Africa), through its Crowdlending Window, along with crowdfunding platform Energise Africa, has mobilised $2.9 million in financing to support the development of nine solar mini-grid projects across rural communities in Benin.
As part of the financing package, CEI Africa has signed a $1.5 million junior secured loan agreement with Mionwa Generation SA, OnePower Group’s special purpose vehicle in Benin. Energise Africa has additionally raised $970,000 in senior secured debt financing and is expected to mobilise a further $420,000, completing the overall funding requirement.
The projects involve the construction of nine solar power plants with a combined installed capacity of 595 kW and 1.7 MWh of battery energy storage. Once operational, the mini-grids will provide clean, reliable, and 24/7 electricity access to around 4,700 households and local businesses, significantly improving rural electrification and reducing dependence on conventional energy sources.
In addition to the debt funding, CEI Africa has approved up to $972,000 in results-based financing (RBF) grants, while the Universal Energy Facility (UEF)—a multi-donor results-based financing facility managed by Sustainable Energy for All (SEforALL)—has committed a total RBF envelope of $1.66 million across five project sites.
“This financing marks a major milestone for the OnePower Mionwa portfolio in Benin. By combining CEI Africa’s and UEF’s RBF funding with debt from CEI Africa and Energise Africa, we are delivering commercially viable, utility-grade solar mini-grids to communities historically underserved by the central grid,” said Matthew Orosz, CEO of OnePower Group.
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